Thursday, August 12, 2010

Texas Files Challenge to Offshore-Drilling Ban

The Status quo from Texas ran this Country into the ground for the better part of a decade. Their "right" to pollute, and take massive tax subsidies at the same time created a reckless policy of arrogance and disregard for "ALL" others in the market place - from fishermen to consumers to the once great middle class. Their day is coming to an end and I suggest the oil riggers study how to build wind turbines and install solar panels. It's back to school for the riggers and the smart ones are already transitioning to the new green economy. The handwriting is on the wall and has been for a long long time.

The biggest tidal energy turbine in the world has been unveiled in the Scottish Highlands today as the rest of the world completely hammers us on developing new technologies and clean energy sources. Why? Because we aren't capable...? No. Because big oil and their well greased representatives local, state and federal, are doing all they can to hang onto their market rigging hyper money making business model and preventing the competition from even entering the field and marketplace. Hey, that's the game and that's how it works.

Kudos to them for buying up the politicians and changing the rules, eliminating the laws that "governed" them, eliminating their federal taxes, and even then getting millions upon millions in tax payer subsidies heaped upon them. Nice work if you can get it but it ties up money that could go to new emerging markets, re-training our work force and educating our citizens.

Kudos to them for working the system and setting aside all values but the value of a dollar. It doesn't make them patriots; it doesn't make them good citizens, Jeffersonian, or even Americans because they hold all else other than profit, even their own customers in total and utter contempt.

A companies single focus on their bottom line is great for shareholders (of which I am one) but it is often devastating to the macro economic realities of the "whole" market place and affects the rest of our portfolios dramatically, and negatively in a complex and interrelated national and global market system of which they pay no mind to (except their little sliver) - as if operating in a vacuum.

Monopolies, oligopolies are not hero's to be lionized, left to theirs and our demise or put in charge of "governing" themselves. They are a cancer on the whole system shutting down, sidelining and stagnating, innovation and discovery. They are set up to be competition killing machines, corner the market, and are far worse than "governing" regulation where the focus is on the whole macro-economic picture.

You can call it socialism if you' don't own a dictionary but in reality its called "management" and that is what governments are for - to manage the markets - see that the playing field is level and THEN - get out of the way.

Paul Burke
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